MINNEAPOLIS — Relationships can be complicated and around Valentine's Day, there can be a lot of pressure to impress your significant other.
But what if, instead of planning a date that will only last for a few hours in a single night, you and your partner could instead sit down together and discuss finances and goals that reach far into the future?
It sounds... well, awful... but it can lead to deeper discussions and ultimately strengthen your relationship. Money is hard to talk about and is a huge source of stress for many couples.
Here are three things to consider around money and relationships.
1. If you're considering marriage, should you sign a prenup?
You've probably heard the statistic that 50% of all marriages end in divorce, but it's actually not true.
Since the 80s, divorce rates have been falling for most age groups. Still, legal experts say that anyone considering tying the knot should think about signing a prenuptial agreement.
The 'prenup' is a written contract both partners sign before they're married.
The document is normally created to protect your financial interests but even if you don't have a lot of money or assets, a prenup can help set expectations about finances if you do get a divorce.
As long as the agreement is considered valid by a judge, the way you divide up assets, liabilities and debt will be held up in court.
2. Should couples always use a joint bank account?
Talking about money with your partner is important and there is no one-size-fits-all formula for any relationship.
Some people prefer to keep their money separate, but a report from Bankrate shows that couples with joint bank accounts are more in sync when it comes to money and are more likely to respond to their partner’s needs without expecting anything in return.
While it's food for thought… the most important thing is that you both agree.
3. If you're still looking for a partner or just want to try a less expensive night out... here are some cheap date ideas!
- Dating a book lover? Find an interesting bookstore and take them along to browse. If you find a book you both need to read, check it out at your local library.
- Volunteer together. Help your community and learn about the values are important to your date.
- Go out to breakfast. It's the most important meal of the day... And usually cheaper than going out for dinner. Plus, if breakfast goes well... you have the rest of the day to get to know each other better.
- How about catching the sunrise or sunset together? It's sweet, romantic and affordable on any budget.
But really, the best date is one that is special for both of you.
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